First REI deal in the books

[Tre Brooks]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $108,000
Cash invested: $80,000
Sale price: $245,000

First fix and flip deal in the books

What made you interested in investing in this type of deal?

location on a macro scale
Purchase price
rehab level

How did you find this deal and how did you negotiate it?

Wholesaler

How did you finance this deal?

HML and private lender

How did you add value to the deal?

Full rehab

What was the outcome?

Sold for $245000 which was a small profit

Lessons learned? Challenges?

In a down turning market, list low and let the market come to you. Dont chase the higher ARV. Time kills deals

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Kiavi lending for my HML. 90% LTV 12%